JustSwap - Crypto Academy || Season 4 Week 5 || Homework Post for @kouba01

in SteemitCryptoAcademy2 months ago (edited)

QUESTION 1
Present the justswap platform in your own way, demonstrating its importance within the tron ecosystem Blockchain.

The JustSwap Platform

EC2940B4-E60A-48FB-ADE7-FFEFABA21592.jpeg

screenshot from justswap

I will begin by defining the justswap platform then exploring it. The justswap is a tron-based decentralized trading protocol for swapping and automated liquidity. The interesting part about the justswap platform is the fact that it is a decentralized exchange, meaning you have every right over your assets and no third party is involve in the handling of your cryptocurrencies making it more efficient and loss transaction fee.

The justswap uses the decentralized finance protocol which offers the possible to independently swap TRC20 tokens quoted by the automated market maker (AMM).

Features of JustSwap

The justswap has two major features which are the swap and pool.

Swap

In the swap feature, we efficiently swap TRC-20 tokens between themselves. Since it is a decentralized exchange, we have the elimination third party making the liquidity providers to benefit from the exchange fee. We can see that in the screenshot below.

01164870-A399-48F9-A84F-2858C250E479.jpeg

screenshot from justswap

Pool

The Pool allows the users to add their assets in the pool which they earn form the exchange fees in the platform since it a decentralized system.

C576FF2B-969E-475F-B37F-8965EBCC0153.jpeg

screenshot from justswap


JustSwap Mining

The JustSwap feature allows users to add liquidity in the pool by staking some certain amount of their holdings. With this, they can earn from the exchange fee through the idea of APR and APY. This is facilitated by the idea of the automated market markers in quoting the assets price.

BA37D82E-1151-4CAD-8913-524F7542657E.jpeg

screenshot from justswap


The Importance of JustSwap within the Tron Ecosystem

We have a series of importance of the justswap which I will be listing below.

  • The justswap offers a decentralized swapping system. With this, we that we can swap TRC-20 token with no problem and without involving any third party.

  • We can earn passive income through the participating in the liquidity pool. With the opportunity to participate in the pool, we can get income through the APR and APY.

  • The JustSwap being a decentralized system means that it is more secure when it comes to security.

900BDDC2-1275-4871-997A-101CF42E9F28.jpeg

QUESTION 2
What tokens does justswap support trading? How is the price of a justswap token determine ( how it works)? Use an illustration to explain it.

Tokens Supported by JustSwap for Trading



As I did mentioned above, we see that the JustSwap platform support TRC-20 tokens. And the TRC-20 token is built on the Tron Blockchain.
Let me then list the cryptocurrencies available on the justswap before providing a screenshot for it.
We have; tron, bitcoin, sun, wrapped bitcoin, wrapped tron, ethereum, just, wink, dice, live, tether, true stablecoin, just stablecoin, litecoin, huobi token and live.
We can see that in the screenshot below.

286F17B7-E597-40E9-B12F-4E74838F1B1F.jpeg

1B481D49-E56A-4CAB-9EF6-589EDBD5934E.jpeg

51320EF0-F996-4208-A2F2-08CE143A806C.jpeg

screenshot from justswap


How the Price of the justswap tokens are determine

The Automated Market Maker is the model which is used in quoting the prices of the tokens on the JustSwap platform. In normal centralized exchanges, we see that the prices of the cryptocurrencies are taken from the order book which is done using the bid and the ask price of traders.

I am going to be explaining mathematically how the Automated Market Maker uses the liquidity provided in the pool to provide the price of the justswap token.

Let A represents the first token
And B represents the second token
We se that the constant value taken as K which is the total liquidity that is available in the liquidity pool will be given by

K = A * B


8CED5B54-273E-49CE-B678-0A6927C27AC6.jpeg

QUESTION 3
How do I connect my wallet to justswap.io? Is there a mobile app?

How to connect my wallet to JustSwap

We can connect the JustSwap to a wallet in the following steps below.

Step 1

We begin by logging into the tronlink pro wallet and clicking on the browser tab, and then on the search section we type in justswap and search we will have the results as shown below.

92ADB6CE-F41E-4A47-86B6-B1D7BA06C5EC.jpeg

C0810C83-3DF2-4AED-A497-35FC0428F439.jpeg

screenshot from justswap

Step 2

We then click on the connect tab which automatically connect the wallet as shown on the screenshots below.

65D5F97D-5532-4ADB-A33C-BF77782F6E7F.jpeg

086E2AE7-4695-43FA-A80C-E7D7207235DD.jpeg

screenshot from justswap



The JustSwap does not have a mobile app. The JustSwap functions as a decentralized application on the exchange protocol which can be accessed only through Tron-based mobile wallets.


BA914E52-949E-4DB3-8EE2-B0B64148654A.jpeg

QUESTION 4
Include a real example of your interaction with justswap, demonstrate how you can trade on the platform

How to Trade on JustSwap

We can achieve that in the following steps below.

Step 1

We begin by logging into the trust wallet, since I have connected my justswap already I will be clicking on the browser tab, and on the search I search for justswap just as above. Since I connected the wallet already I will just need to carry out my transaction now.

D4308B17-F80E-4F1C-AB14-9F0D42B8DDB5.jpeg

10475C34-4A06-4833-83F7-6469EB473C79.jpeg

screenshot from tronlink


Step 2

On this step, I will be carrying out the transaction of swapping trx against usdt. On the first tap I put a total amount of 50trx and then click on the drop down arrow to select cryptocurrency which I want to swap to which I will be selecting the usdt. This is as shown in the screenshot below.

4AD050F3-1906-490A-B95A-53703E9A423B.jpeg

824C2A8C-04D0-4736-8067-754917C93B58.jpeg

screenshot from tronlink


My 50trx will be giving me 4.894usdt, I then finalize by swap button and taking confirm swap and then confirming with my password.
We have a price impact of <0.01 and liquidity provider fee of 0.15trx

A575EBEC-0D9F-4D07-A464-0C8159496E77.jpeg

493943F1-E830-4400-ADE8-84B885761B49.jpeg

8A49DF03-6255-4231-8C57-EF50F6997DEA.jpeg

screenshot from tronlink


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QUESTION 5
Include a real example of your interaction with justswap, explain how to add liquidity to justswap.

Adding Liquity to JustSwap

We can liquidity in the following steps as I will be explaining in the steps below.

Step 1

We log into the tronlink application and on the search browser, we click and search on the justswap. We can see that in the screenshots below.

6DBA08A8-33F5-46C4-B608-93659761E37F.jpeg

9853DEE9-BBCD-4F9A-81A6-2C487C9BB5AC.jpeg

screenshot from tronlink


Step 2

I now click on pool, and on the amounts I will be supplying 46trx and 4.5usdt in the pool. After the input I then click on the supply button. Which I will confirm with my password as shown the screenshots below.

0168F31F-A222-4804-9165-E3EC2A4B029D.jpeg

91360F24-C144-4CE6-89B2-CD6E9676A678.jpeg

B6D494B0-0927-4EFE-98BE-E6F047DA3F5E.jpeg

3BD8EEBB-074F-415A-8A04-D4FDFEF19EAC.jpeg

5B93B279-7DC7-4A14-86BA-F5AAB5E1A2DA.jpeg

screenshot from tronlink

A82B8AE1-877F-4F55-951C-71B4315BE8F5.jpeg

Conclusion

The justswap is a platform we can use to swap and and participate in the liquidity pool by adding liquidity using tron-based cryptocurrencies. The justswap platform has no app and we can access it from the tronlink application by searching and connecting the tronlink wallet to the justswap to carry out the swapping and liquidity pool.

@kouba01

Sort:  
 2 months ago 

Hello @blaisebass1,
Thank you for participating in the 5th Week Crypto Course in its 4th season and for your efforts to complete the suggested tasks, you deserve a Total|5/10 rating, according to the following scale:

OriginalityCompliance with topicConsistency of methodQuality of analysisClarity of structure & language
(0.75/2)
(1/2)
(1/2)
(0.75/2)
(1.5/2)

My review :

Generally medium work in which you succeeded in answering some questions and did not delve into other answers.

  • Explanation of the JustSwap platform and its importance in the Tron ecosystem lacks depth of analysis, causing the answer to lose its critical dimension.

  • In determining the price of the JustSwap token, you are asked to provide an illustration to explain it.

  • You should have explained how to use the platform on the mobile phone.

Thanks again for your effort, and we look forward to reading your next work.
Sincerely,@kouba01

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